Having Tacit Knowledge Can Be The Difference Between Success and Failure

Knowledge is important for managerial success. There are two kinds of knowledge: tacit and explicit. Tacit knowledge is learned from experience and helps managers succeed with real-world problems. Tacit knowledge is believed to be more important for managerial results than is explicit knowledge. Even if managers have similar skills and abilities, they can have different levels of tacit knowledge. Today’s best managers can help employees build tacit knowledge by exposing employees to a wide range of learning situations that may be out of their regular norm for employees.

Source: Armstrong, S. J., & Mahmud, A. 2008. Experiential learning and the acquisition of managerial tacit knowledge. Academy of Management Learning & Education, 7, 189-208.